Curated News
By: NewsRamp Editorial Staff
May 13, 2024
Syra Health Corp. (NASDAQ: SYRA) Surges Ahead: Q1 2024 Sees 47% Revenue Growth and $3.2 Million Cash Balance
TLDR
- Syra Health Corp. (NASDAQ: SYRA) saw a 47% revenue growth in Q1 2024, positioning the company for strong future financial performance.
- The company's Q1 2024 revenue was $1.7 million, a 47% increase from the first quarter of 2023, with strong growth in Population Health and Healthcare Workforce.
- Syra Health Corp.'s innovative services and technology solutions focus on prevention, improved access, and affordable care, making a positive impact on healthcare delivery.
- The company's research study protocol for 'Syrenity,' their mental and behavioral health platform, was approved by Pearl Institutional Review Board, paving the way for potential advancements in mental health treatment.
Impact - Why it Matters
The financial results of Syra Health Corp. indicate strong growth and expansion, with significant revenue projections for the full year of 2024. The company's success in securing contracts across multiple states demonstrates its increasing influence and reach in the healthcare industry, potentially impacting the quality and accessibility of healthcare services for a wide range of individuals and communities.
Summary
Syra Health Corp. (NASDAQ: SYRA) announced its Q1 2024 financial results, reporting a 47% revenue growth and a $3.2 million cash balance as of March 31, 2024. The company anticipates full-year 2024 revenue of $9 to $11 million, reflecting significant growth compared to 2023. Recent operational highlights include securing multiple contracts in 19 states, including a $660,000 contract with a national healthcare organization and a $480,000 contract from the Indiana Department of Health.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Syra Health Corp. (NASDAQ: SYRA) Surges Ahead: Q1 2024 Sees 47% Revenue Growth and $3.2 Million Cash Balance
